DXY bounces at major support, reducing Bitcoin’s chance at breaking the $17.2K resistance By Cointelegraph
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On Dec. 2, the United States (DXY), an index that measures the dollar’s strength against a basket of top foreign currencies, reached 104.40, which was the lowest level seen in five months.
To recap, the U.S. dollar’s weight against the basket of top foreign currencies grew by 19.6% in 2022 until late September as investors looked for protection against the impact of a hawkish Federal Reserve and, more recently, the rising energy costs and the effect of high inflation.
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On Dec. 2, the United States (DXY), an index that measures the dollar’s strength against a basket of top foreign currencies, reached 104.40, which was the lowest level seen in five months.
To recap, the U.S. dollar’s weight against the basket of top foreign currencies grew by 19.6% in 2022 until late September as investors looked for protection against the impact of a hawkish Federal Reserve and, more recently, the rising energy costs and the effect of high inflation.
Continue Reading on Coin Telegraph
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